Couchbase (NASDAQ:BASE) Earns “Buy” Rating from Needham & Company LLC

Couchbase (NASDAQ:BASE)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $22.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 4.17% from the company’s previous close.

A number of other equities analysts also recently commented on BASE. DA Davidson decreased their target price on Couchbase from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company decreased their price objective on shares of Couchbase from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. UBS Group cut their target price on shares of Couchbase from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Morgan Stanley decreased their price target on shares of Couchbase from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Finally, Piper Sandler cut their price objective on Couchbase from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.27.

Couchbase Trading Up 2.9 %

BASE stock opened at $21.12 on Wednesday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -13.28 and a beta of 0.71. The firm’s 50-day moving average price is $17.37 and its two-hundred day moving average price is $18.25. Couchbase has a 12-month low of $13.53 and a 12-month high of $32.00.

Couchbase (NASDAQ:BASE) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Couchbase had a negative return on equity of 54.84% and a negative net margin of 39.51%. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $51.11 million. During the same quarter in the previous year, the business earned ($0.44) EPS. Couchbase’s revenue was up 19.7% compared to the same quarter last year. Equities analysts predict that Couchbase will post -1.51 EPS for the current year.

Insider Buying and Selling

In related news, SVP Huw Owen sold 6,736 shares of Couchbase stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.07, for a total value of $101,511.52. Following the completion of the sale, the senior vice president now directly owns 373,647 shares in the company, valued at approximately $5,630,860.29. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward T. Anderson bought 21,080 shares of the stock in a transaction on Thursday, September 19th. The shares were bought at an average price of $14.16 per share, for a total transaction of $298,492.80. Following the purchase, the director now directly owns 85,902 shares in the company, valued at approximately $1,216,372.32. This trade represents a 32.52 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 10,548 shares of company stock worth $163,390 in the last quarter. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BASE. Franklin Resources Inc. grew its position in Couchbase by 27.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,647,334 shares of the company’s stock worth $27,379,000 after purchasing an additional 353,233 shares during the period. Barclays PLC boosted its stake in shares of Couchbase by 242.9% in the 3rd quarter. Barclays PLC now owns 75,602 shares of the company’s stock worth $1,218,000 after buying an additional 53,555 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Couchbase by 10.3% in the third quarter. Geode Capital Management LLC now owns 944,447 shares of the company’s stock worth $15,228,000 after acquiring an additional 88,068 shares during the period. XTX Topco Ltd increased its position in Couchbase by 60.0% during the third quarter. XTX Topco Ltd now owns 26,405 shares of the company’s stock valued at $426,000 after acquiring an additional 9,897 shares during the last quarter. Finally, Washington Harbour Partners LP lifted its holdings in Couchbase by 39.6% in the third quarter. Washington Harbour Partners LP now owns 93,400 shares of the company’s stock valued at $1,506,000 after acquiring an additional 26,500 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

About Couchbase

Couchbase, Inc provides cloud database platform for enterprise applications in the United States and internationally. Its database works in multiple configurations, ranging from cloud to multi- or hybrid-cloud to on-premise environments to the edge. The company offers Couchbase Capella, an automated and secure Database-as-a-Service that simplifies database management by deploying, managing, and operating Couchbase Server across cloud environments; and Couchbase Server, a multi-service NoSQL database, which provides SQL-compatible query language and SQL++ that allows for a various array of data manipulation functions.